Oil slid in early Asian trading as Washington’s president signaled that Iranian negotiators still seek a deal. President Trump said the “right people” in Iran want a U.S.‑Iran agreement after weekend talks in Pakistan collapsed. The comment eased market fears that the Strait of Hormuz blockage could stall supply recovery for both traders and investors today.

Front‑month WTI futures fell 2.3% to $96.80 per barrel, while Brent slid 1.9% to $97.49. Analysts at ANZ Research warn that ongoing closures could delay market normalization for months. The drop reflects a mix of optimism about a diplomatic breakthrough and caution over persistent regional tensions for traders and policy makers today again after the the.

The Strait of Hormuz remains a choke point for roughly 20% of global oil shipments, so any sustained blockage can tighten supply curves worldwide. Market participants are watching Tehran’s next move closely, as a breakthrough could lift prices, while a failure may push oil back into a tighter supply environment for investors today and analysts.

With the U.S. administration still engaging in back‑channel talks, volatility in Brent and WTI will likely persist until a concrete deal materializes. Investors should monitor shipping data from the Strait and diplomatic cues from Washington and Tehran, as any shift could swing prices by a few dollars a barrel in the next trading cycle today.